Mattel(EL SEGUNDO, Calif.) -- At 54 years old, is Barbie losing her appeal?

Mattel says sales of Barbie dolls have fallen for a fourth straight quarter, down 12 percent in the last quarter. Meanwhile, sales of other Mattel doll brands, like American Girl and Monster High, continue to improve.

The toy industry is facing a growing challenge from mobile devices, which are changing the way children and their parents play.